Answer:
<em>Questions</em>
What is the company's cost of goods sold for the month?
COGS 33,000
What is the company's net income for the month?
net loss 4,333
What is the company's ending inventory for the month?
16,667
Missing Information:
It sold 8,00 units
Explanation:
manufacturing cost:
rent on factory 8000 +
factory workers salary 24000 +
direct materials 18000 = 50,000
cost per unit considering it produced 12,000:
50,000 / 12,000 = (4 + 1/6)
then, cost of good sold: cost per unit x units sold
(4 + 1/6) x 8,000 = 33,333.33
ending inventory 50,000 manufactured - 33,333 sold = 16,667 ending inventory
income for the month:
8,000 x 5 40,000
COGS <u> - 33,333 </u>
gross margin 6,667
adv expense -5,000
admin expense <u>-6,000 </u>
net loss 4,333
Answer:
a.
Cash $1000 Dr
Common stock $1000 Cr
b.
Purchases $500 Dr
Cash $500 Cr
c.
Accounts Receivable $2000 Dr
Sales Revenue $2000 Cr
d.
Cost of Goods Sold $500 Dr
Inventory Account $500 Cr
e.
Cash $2000 Dr
Accounts Receivable $2000 Cr
Explanation:
a.
The cash received as a result of issuing shares is debited as cash is increasing while as the capital is increasing so common stock is credited.
b.
The inventory is purchased for cash so cash is credited and purchases are debited.
c.
The sale of inventory on credit means a debit to the accounts receivable account for the amount of sale and a credit to sales revenue.
d.
When inventory is purchased, we debit the purchases account and credit either cash or accounts payable.
Later on, we transfer the purchases to the inventory amount as it is purchased for the intention of sale. Thus, we credit the purchases account and debit the inventory account.
When a sale is made, we debit the cost of goods sold by the amount of inventory sold and credit the inventory account.
e.
Cash is received so it will be debit and accounts receivable be credited.
Answer: B. False
Explanation:
Information Technology Infrastructure Library (ITIL) is a framework of best practices for delivering IT services to businesses and management generally. The main aim of ITIL is to focus IT in managing the needs of a business.
ITIL’s systematic approach to IT service management can help businesses manage risk, strengthen customer relations, establish cost-effective practices, and build a stable IT environment that allows for growth, scale and change.
Answer:
Contribution per unit of Bran X = 51 cents
Contribution margin: 51 / 69 = 73.91%
Explanation:
<em>Retail price: 1.20</em>
retail margin of 35% --> thus the cost of good is 1.20 x ( 1 - 0.35) = 0.78
At this price the wholesalers trade to grosery store and others
wholesales margin 11.5% --> the price at which Alger sales the product to wholesalers:
0.78 x (1- 0.115) =<em> 0.6903 producer selling price</em>
Now from this, Horatio has the following variable cost:
variable manufacturing cost: 0.08
shipping and other cost: 0.03
sales persons 10% commision 0.06903
Total variable cost: 0.17903
Contribution per product: .6903 - 0.17903 = 0.51127 = 51 cents
Answer:
66.67%
Explanation:
Given that,
Enrollment of new students per semester (Desired capacity) = 2,100
Holly Lutze, placed a ceiling on enrollment of new students = 1,600
Conflicting schedules allowed only (Actual intake) = 1,400 new students
Therefore,
The utilization rate for Southeastern:
= 66.67%
